US equity benchmarks were trading at lows in the late morning on Thursday, after White House advisor Larry Kudlow said there was "a considerable gap" between the US and China in protracted trade negotiations. President Donald Trump's National Economic Council Director said on Thursday in an interview with Fox Business Network. Kudlow said the previous talks had "a tremendous amount of ground," but enforcement will be very important, as well as technological and structural issues. The Dow Jones Industrial Average

DJIA, -1.41%

The S & P 500 Index was 25,075 down 329 points or 1.3% below the value

SPX, -1.49%

fell 1.4% to 2,693, while the Nasdaq Composite Index

COMP, -1.71%

dropped 7.2% to 7,258 The longstanding trade disputes between Beijing and Washington have been among the most important counterparts for the stock market in recent months. Regardless, the CNBC, citing sources, reported that Trump and Chinese President Xi Jinping are unlikely to meet until March 1 to raise tariffs on Chinese goods.